Inventory Controller

Purpose of Role

To oversee and manage all aspects of inventory control within the company. This role involves maintaining accurate records, optimizing inventory levels, coordinating with various departments, and ensuring efficient inventory management practices to support the company's operations and financial goals.

Responsible for overseeing and managing the company's inventory levels, ensuring accuracy, timely replenishment, and efficient utilization of resources. This role plays a critical part in maintaining optimal inventory levels to support operational needs while minimizing costs and ensuring consistent supply availability. The Inventory Controller is responsible for overseeing and managing the company's inventory levels, ensuring accurate tracking, efficient storage, and timely replenishment of goods. This role plays a crucial part in optimizing inventory operations to meet customer demands while minimizing carrying costs and maintaining optimal stock levels.

Role Context

Inventory Management

• Maintain accurate records of inventory levels, stock movements, and stock discrepancies.
• Regularly monitor and update inventory databases, ensuring data accuracy and integrity.
• Implement inventory control procedures to minimize shrinkage, overstocking, and stockouts.
• Reconcile the use of reagents, steel balls and hydrocarbons by recording and monitoring the use of these materials to optimise their use and reduce wastage.
• Maintain or exceed prescribed KPI’s and targets as they relate to inventory controls ensuring business objectives are achieved.

 Stock Replenishment

• Analyse inventory consumption patterns and trends to determine optimal reorder points and quantities.
• Coordinate with suppliers to place timely replenishment orders, considering lead times and demand forecasts.
• Prevent excess stock accumulation and ensure stock levels are aligned with demand.

Inventory Audits and Accuracy

• Conduct routine physical inventory counts to validate system records and identify discrepancies.
• Investigate and resolve discrepancies between physical counts and system records promptly.
• Implement corrective measures to prevent recurring inventory inaccuracies.
• Inventory is appropriately adjusted to compensate for current variances to ensure inventory accuracy as per the prescribed targets.
• Ensure all inventory listed items are counted monthly.

Reporting and Analysis

• Generate regular inventory reports detailing stock levels, turnover rates, and stock aging.
• Provide insights on inventory performance and recommend improvements to optimize inventory management.
• Ensure all transactions are performed on the WMS by implementing policies and procedures driving a strong discipline towards adherence and system usage to mitigate inaccurate or misrepresented information.
• Inventory variance reports to be signed off by the appropriate and designated persons of authority in a timely manner.
• All outstanding variances to be resolved within the established timelines, policies and procedures.

Cross Functional Collaboration

• Collaborate with procurement, warehouse, and finance teams to ensure seamless inventory operations.
• Communicate with relevant departments to address supply chain issues and align inventory strategies.

  Process Improvement

• Identify inefficiencies in inventory processes and propose enhancements to streamline operations.
• Implement best practices and automation solutions to improve inventory accuracy and efficiency.
• Take measures to mitigate or reduce damages to inventory and company assets and reduce the associated losses due to damages.
• Enforce company policies and procedures – issuing of procedures, stock management and ensuring all transaction documentation is in place before stock is issued.

People Management

• Supervise the team according to TM’s leadership principles and values throughout the entire employee life cycle (performance management, reward etc) to ensure, inter alia, a high-performance culture.

Resource Management

• Determine resource needs of the team and/or own area of work to achieve business outcomes by tracking store limits and proactively ordering.
• Request and allocate required assets and/or resources for the fulfilment of work objectives to guarantee quality outputs.
• Monitor the use of assets and resources within the team and own area of responsibility, to ensure assets and resources are consistently and appropriately utilised and managed.

Stakeholder Relations

• Communicate with all relevant Departments on issues of the area of speciality. Liaise across the relevant Departments by engaging with the appropriate stakeholders to ensure all stakeholders remain abreast of Departmental objectives, any potential derailers are appropriately managed and duplication of work is avoided.
• Communicate with internal stakeholders, where required, to achieve work objectives and to maintain relationships and the continuity of business between the stores department and other internal stakeholders and their respective departments.